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Swiss Re believes the balance of risk is tilted to the downside with trade tensions being the number one risk to watch. Swiss Re believes the balance of risk is tilted to the downside with trade tensions being the number one risk to watch. (Photo: Shutterstock.com)

Swiss Re expects GDP growth to soften in most large economies in 2019, according to its latest Economic Insights report. The U.S. GDP growth is forecasted to decline by 0.7% to 2.2%; the Euro area economy to slow somewhat to 1.5%; and China’s GDP growth is predicted to fall to about 6.3%.

The three P’s that will be closely watched in 2019: prices, as inflationary pressures are increasing in the medium term; policies, as central banks transition from quantitative easing to quantitative tightening; and politics, as trade tensions mount. While the outlook is still benign, Swiss Re believes “softer and more diverging global growth is ahead,” while also noting the environment remains upbeat and one of stronger growth for insurance markets in part due to emerging markets powering on.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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